Holding Company Plans to Acquire Strategic Stake in French Limagrain
The Holding Company has announced the commencement of exclusive discussions to acquire a 35% stake in Limagrain Vegetable Seeds, a subsidiary of the French Limagrain Group, which specializes in vegetable seed production. This development marks a strategic move aimed at enhancing the Holding Company’s portfolio in the food and agriculture sector, with a focus on innovation and sustainability in this vital field.
Acquisition Details
Limagrain Vegetable Seeds is one of the leading companies globally in this sector, boasting over 280 years of experience. The company operates 56 research centers across 20 countries, enabling it to develop innovative products that include 43 varieties of key vegetable crops. Under the proposed collaboration, the shared interest will involve the development of research projects related to adapting vegetable crops to desert climates.
Innovation and Food Security Support
The Holding Company’s move to acquire a strategic stake in Limagrain aligns with a shared vision aimed at improving food security in arid and semi-arid regions. Research and development efforts will focus on the Innovation Oasis of the Sela Company in Al Ain, which serves as an advanced agricultural center with dedicated laboratories for seed testing. Limagrain’s expertise in genetic sciences will contribute to the development of new genetic solutions that enhance crop resilience to challenging environmental conditions.
Joint Collaboration and Future Prospects
According to Mansour Mohammed Al Mulla, the Executive Vice President of the Holding Company, enhancing the company’s portfolio growth in the food and agriculture sector represents a strategic step, as the Holding Company seeks to establish an effective partnership that combines Sela’s advanced infrastructure with Limagrain’s scientific capabilities. Al Mulla stated, “We look forward to establishing a sustainable and resilient food system to meet the growing demand for food products in the UAE.”
In this context, Sébastien Chaufour, CEO of Limagrain, emphasized the importance of this partnership: “The Holding Company’s investments in vegetable seeds reaffirm our shared commitment to developing innovative agricultural technologies to address the significant challenges in this sector.” He added, “We look forward to exploring the opportunities this partnership will create in promising markets, particularly in the Middle East and North Africa.”
Through this ambitious step, the Holding Company strengthens its presence in the agriculture sector, opening new avenues for expansion and growth, and making a significant impact on the future of food security and agricultural production in the region.